Technical Major Currencies Weekly Report

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EUR/USD

The pair breached key resistance level of the downside move and the sideway correctional resistance level shown on the graph; this supports the possibility of another upside move during this week. Positive Linear Regression Indicators support this outlook, but we don’t rule out some volatility and downside correction due to overbought signals on Stochastic. Stability above 1.3000 is a positive condition for this week.

The trading range for this week is among the key support at 1.2975 and key resistance at 1.3480.

The general trend over short term basis is negative targeting 1.1865 a s far as areas of 1.3550 remains intact.

The pair rose and consolidated above 84.10 levels was seen due to the opening bullish gap; while Momentum Indicators offer overbought signals. We cannot confirm the extension of the upside move unless the pair breaks and holds above 84.95. Therefore, we think that the bearish correctional move remains valid but not before confirming stability below 84.10 again.

The trading range for this week is among key support at 82.25 and key resistance at 86.25.

The general trend over short term basis is to the downside stable at levels 0.9775 targeting 0.8860.

Support 84.10 83.65 83.35 83.00 82.65Resistance 84.35 84.95 85.50 86.00 86.25Recommendation Based on the charts and explanations above, our opinion is selling the pair around 84.10 targeting 83.65, 83.00 then 82.65 and stop-loss with four-hour closing above 84.95; if the stop-loss was triggered, buy the pair above 84.95 targeting 85.50, 86.00 then 86.25 and stop-loss below 84.10 might be appropriate this week

USD/CHF

The pair dropped to trade below 0.9240 levels indicating that we might face the extension of the downside move this week. The first suggested target of the bearish move resides at 0.9030 levels which represents a suggested divergence level of a technical harmonic formation. The possible bearish move depends on stability below 0.9365 levels but we prefer stability below 0.9240 levels to support this negative outlook.

The trading range for this week is among key support at 0.8915 and key resistance at 0.9445.

The general trend over short term basis is to the downside stable at levels 0.9775 targeting 0.8860.

The pair is trading again around 0.9855 which represents the second target of the bearish Harmonic Butterfly Pattern. Stability below the referred to level might extend the downside move, Stochastic shows the pair getting near to overbought levels and the descending channel that organized trading from the Top D is still supporting the bearishness. Linear regression Indicators tend to be positive and Relative Strength Index breached 50 to the upside. Therefore we remain neutral in our weekly report waiting more details for the intraday direction.

The trading range for this week is among key support at 0.9690 and key resistance at 1.000.

The general trend over short term basis is to the downside below levels 1.0125 targeting 0.9400.

Support 0.9825 0.9800 0.9770 0.9735 0.9690Resistance 0.9880 0.9900 0.9935 0.9950 1.0000Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next moveAUD/USD

The weakness is clear on the pair as it failed to hold above 1.0565 levels and stabilizing below it keeps the effect of the negative double harmonic formation. Stability below the referred to level might extend the downside move to test key resistance of the minor ascending channel around 1.0480 levels, breaching it might extend the downside move. Stability below 1.0615 is required to support the temporary negative outlook for the pair.

The trading range for this week is among key support at 1.0330 and key resistance at 1.0710.

The general trend over short term basis is to the downside below levels 1.0710 targeting 0.9400.

Support 1.0505 1.0480 1.0430 1.0400 1.0370Resistance 1.0565 1.0585 1.0600 1.0615 1.0645Recommendation Based on the charts and explanations above, our opinion is selling the pair around 1.0530 targeting 1.0480, 1.0430 then 1.0370 and stop-loss with four-hour closing above 1.0615 might be appropriate this week

NZD/USD

The pair is trading above critical levels such as 0.8435 and 0.8355 despite overbought signals on Momentum Indicators. Therefore, the upside move remains valid due to stability above those levels, but high volatility is likely due to the overbought signals mentioned. Breaching 0.8305 might weaken the positivity.

The trading range for this week might be among key support at 0.8225 a nd key resistance at 0.8660.

The general trend over short term basis is to the upside above 0.8130 targeting 0.8845.

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